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Aug 20 - 01:55 PM

NZD/USD - Sinks; Seems Yesterday's Rally Misled Traders

By Jeremy Boulton  —  Aug 20 - 09:35 AM
  • NZD/USD jumped to 0.6652, weak shorts purged, fresh longs entered

  • Pair has undergone an abrupt reverse and breaks a big level

  • Pair down to 0.6489. Close under daily Ichimoku cloud top likely

  • Cloud top 0.6520. Potentially pair may reach base @ 0.6261

  • There are some big levels in between. 200-DMA/100-DMA 0.6372/0.6340

  • Target for a correction of rise from March low is 0.6240

  • Three lows in June offer further support. 0.6381, 0.6375 and 0.6386



NZD/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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